Here is the cover of the
Old Earth Books edition of Gray Lensman , which is substantively the
same as the original Fantasy Press edition, minus the Fantasy Press logo and
with "gray" spelled correctly. The art is by Ric Binkley, and is clearly
copied from the Astounding cover depicted below.

This is the original
version from Astounding October 1939, painted by Hubert
Rogers. Note the misspelling of "gray" in the title.

The November 1939
issue of Astounding. This seems to depict Haynes and
Kinnison onboard the Z9M9Z, planning tactics while looking at the
tank. Art by Hubert Rogers.

The December 1939
issue of Astounding. The cover has nothing to do with
Gray Lensman, but is included here for reference purposes.
Art by Gilmore.

The January 1940
issue of Astounding. The cover has nothing to do with
Gray Lensman, but is included here for reference purposes.
Art by Gilmore.

This is an interior
illustration from the September 1939 issue by Charles Schneeman, depicting Lan
of the Eich and Helmuth communicating by force ball.

I guess, despite the
caption, that this is a Charles Schneeman illustration from the January
1940 issue of Astounding. It certainly
appears to depict the Dauntless flying down the hyper-spatial
tube.